SHIMAMURA (8227) Q2 2025 earnings summary

Executive summary

• Net sales for H1 FY2/25 rose 4.3% year-over-year to ¥330.6 billion, with all domestic and overseas businesses surpassing last year's results.

• Net income increased 5.5% to ¥22.1 billion, and operating profit rose 4.1% to ¥31.4 billion.

• Earnings per share increased to ¥300.67 (post stock split basis).

• Nine new stores opened in H1, with a net increase of 9 stores; 28 openings and 13 closures planned for H2.

Financial highlights

• Gross profit for H1 was ¥114.1 billion, up 4.5% year-over-year.

• Operating income reached ¥31.4 billion, a 4.1% increase year-over-year.

• SG&A expenses rose 4.6% year-over-year, with personnel expenses up 7.9% due to wage increases.

• EC business sales surged 94.9% year-over-year to ¥6.13 billion, with an in-store pickup ratio of 83.9%.

• Total assets grew to ¥552.2 billion as of August 20, 2024.

Outlook and guidance

• FY2/25 full-year net sales forecasted at ¥659.6 billion (+3.9% YoY), operating income at ¥56.3 billion (+1.9% YoY), and profit attributable to owners of parent at ¥40.2 billion.

• Full-year earnings per share forecast is ¥546.83.

• Annual dividend per share projected at ¥190.

• SG&A expenses expected to rise 4.8% year-over-year; personnel expenses to increase 6.2%.